Common use of CREDIT AND PAYMENT TERMS Clause in Contracts

CREDIT AND PAYMENT TERMS. Unless otherwise agreed to by the Seller in the Credit Agreement all payments are due and payable in Tampa, Florida net thirty (30) days from date of invoice or Buyer’s receipt of the product or services, whichever is sooner. For partial shipments, pro rata payments are due as partial shipments are made and invoice received. Under no circumstances shall any invoice or percentage thereof be withheld as retainage or other set-off against Seller’s obligations to Buyer, without Seller’s prior written consent, and, in no event, shall any retainage or set- off held by Buyer be greater than five percent (5%) of the total value of this Agreement. All past due payments shall accrue interest at the lesser of one and one-half percent (1.5%) per month (non-compounded) or the maximum rate allowable under applicable law until paid in full. Additionally, payments not made within thirty (30) days of the due date are subject to a one-time “late charge” equal to four percent (4%) of the payment then due. Notwithstanding the above provision for payment terms, if Buyer is in arrears over thirty (30) days, or if Buyer materially breaches any term of this Agreement of the Credit Agreement, then Seller reserves the right to suspend work on this Agreement and all other orders from Buyer, and/or to withhold shipment of completed equipment (if applicable), and to demand full payment of all amounts in arrears, plus full or partial payment in advance for work in process or as a condition to delivery. In the event of such suspension of work or withholding of shipment, Buyer shall defend, indemnify and hold Seller harmless from any and all loss, damages, expenses, fees, costs, fines or penalties whatsoever which may result to any person or entity due to any delays and damages occasioned thereby.

CREDIT AND PAYMENT TERMS. Unless otherwise agreed to by the Seller in the Credit Agreement all payments are due and payable in Tampa, Florida net thirty (30) days from date of invoice or Buyer’s receipt of the product or services, whichever is sooner. For partial shipments, pro rata payments are due as partial shipments are made and invoice received. Under no circumstances shall any payment due under any invoice or percentage thereof be withheld as retainage or other retainage, nor shall Buyer set-off any obligation of Seller to Buyer against Seller’s obligations to Buyerany invoice or payment due thereunder, without Seller’s prior written consent, and. In the event that Seller provides written consent to a retainage amount, in no event, shall any retainage or set- set-off held by Buyer be greater than five percent (5%) of the total value of this Agreementan invoice amount be valid or enforceable. All past due payments shall accrue interest at the lesser of one and one-half percent (1.5%) per month (non-non- compounded) or the maximum rate allowable under applicable law until paid in full. Additionally, payments not made within thirty (30) days of the due date are subject to a one-time “late charge” equal to four percent (4%) of the payment then due. Notwithstanding the above provision for payment terms, if Buyer is in arrears over thirty (30) days, or if Buyer materially breaches any term of this Agreement of or any other Agreement between the Credit Agreementparties, then Seller reserves the right to suspend work on this Agreement and all other orders from projects, orders, or agreements with Buyer, and/or to withhold shipment of completed equipment (if applicable), and to demand full payment of all amounts in arrears, plus full or partial payment in advance for work in process or as a condition to delivery. In the event of such suspension of work or withholding of shipment, Buyer shall defend, indemnify and hold Seller harmless from any and all loss, damages, expenses, fees, costs, fines or penalties whatsoever which may result to any person or entity due to any delays and damages occasioned thereby.

CREDIT AND PAYMENT TERMS. Unless otherwise agreed to by the Seller in the Credit Agreement all payments are due and payable in Tampa, Florida net thirty (30) days from date of invoice or Buyer’s receipt of the product or services, whichever is sooner. For partial shipments, pro rata payments are due as partial shipments are made and invoice received. Under no circumstances shall any payment due under any invoice or percentage thereof be withheld as retainage or other retainage, nor shall Buyer set-off any obligation of Seller to Buyer against Seller’s obligations to Buyerany invoice or payment due thereunder, without Seller’s prior written consent, and. In the event that Seller provides written consent to a retainage amount, in no event, shall any retainage or set- set-off held by Buyer be greater than five percent (5%) of the total value of this Agreementan invoice amount be valid or enforceable. All past due payments shall accrue interest at the lesser of one and one-half percent (1.5%) per month (non-non- compounded) or the maximum rate allowable under applicable law until paid in full. Additionally, payments not made within thirty (30) days of the due date are subject to a one-time “late charge” equal to four percent (4%) of the payment then due. Notwithstanding the above provision for payment terms, if Buyer is in arrears over thirty (30) days, or if Buyer materially breaches any term of this Agreement of the Credit Agreement, then Seller reserves the right to suspend work on this Agreement and all other orders from Buyer, and/or to withhold shipment of completed equipment (if applicable), and to demand full payment of all amounts in arrears, plus full or partial payment in advance for work in process or as a condition to delivery. In the event of such suspension of work or withholding of shipment, Buyer shall defend, indemnify and hold Seller harmless from any and all loss, damages, expenses, fees, costs, fines or penalties whatsoever which may result to any person or entity due to any delays and damages occasioned thereby.